First notice day for delivery against the March soybean and meal contracts is next week. That alone might keep the markets firm until we get into the delivery process. General Comments Markets were again firm in the overnight session, led by gains in soybeans and wheat. Corn was still evidently suffering from its big numbers in yesterday's USDA baseline forecast. We caution that the baseline numbers are just that, as Bob Kohlmeyer pointed out in yesterday's analysis. The more important USDA predictions will come late next week when USDA releases its preliminary look at the 2014/15 U.S. supply/demand situation during the Outlook Forum to be held 20-21 February.March soybean futures set new highs for this move before some selling took over...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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